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Health Quest Systems Inc./Vassar Brothers Medical Center, NY Rating Outlooks Revised To Negative Feb 09 Product Image

Health Quest Systems Inc./Vassar Brothers Medical Center, NY Rating Outlooks Revised To Negative Feb 09

  • ID: 1952863
  • February 2009
  • Region: New York
  • Standard & Poors

FEATURED COMPANIES

  • Health Quest Sys, Inc.
  • New York State Dorm Auth
  • MORE

Abstract
NEW YORK (Standard & Poor's) Feb. 12, 2009--Standard & Poor's Ratings Services revised its outlooks on the 'A' underlying ratings (SPUR) on New York State Dormitory Authority's series 2007 bonds, issued for Health Quest Systems Inc., N.Y., and Dutchess County Industrial Development Agency, N.Y.'s and the authority's series 1997, 2004, and 2005 bonds, issued for Vassar Brothers Medical Center, N.Y., to negative from stable. Standard & Poor's also affirmed its 'A' SPURs on the debt. The negative outlook reflects lower-than-expected operating results for the first 11 months of fiscal 2008 compared to budgeted and original projections provided by management and weakened debt service coverage, coupled with a weaker balance sheet and the potential for additional debt within the next two...

Companies mentioned in this report are:
- New York State Dorm Auth
- Dutchess Cnty Indl Dev Agy
- Health Quest Sys, Inc.

Action: Affirmed
Action: Outlook: Negative

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- New York State Dorm Auth
- Dutchess Cnty Indl Dev Agy
- Health Quest Sys, Inc.

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